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Homeowners in this state can get paid $550 for these bill-slashing home renovations — check to see if you qualify

To qualify for these rebates, Virginia homeowners must use an approved contractor.

To qualify for these rebates, Virginia homeowners must use an approved contractor.

Photo Credit: iStock

Virginia residents can now get paid hundreds of dollars when they upgrade their homes through the Home Performance Program. 

The goal of the program is to improve households' energy efficiencies across the state, and depending on the upgrade, homeowners can earn $550 in rebates after completing an eco-friendly project. 

Examples of the program's rebates include up to $550 on attic insulation, $267 on ductless mini-split heat pumps, and $350 on air sealing. To qualify for these rebates, Virginia homeowners must use an approved contractor. 

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Thanks to the Inflation Reduction Act — the U.S.'s largest action against rising global temperatures — homeowners can qualify for a variety of rebates and tax credits after updating their homes. What's more, the IRA expanded the 25C tax credit (now called the Energy Efficient Home Improvement Credit) and extended it for 10 years. 

Under this tax credit, Virginia homeowners can not only earn rebates toward attic insulation updates but also toward other energy-efficient improvements, including up to $150 for a home energy audit, $250 for a new exterior door, $600 for new exterior windows and skylights, and $600 for an upgraded electrical panel.

While point-of-sale rebates are available in other states, only the 25C tax credits have been rolled out in Virginia. 

Across the U.S., the IRA is helping homeowners upgrade their homes for free while reducing the nation's pollution. As more homeowners switch to energy-efficient appliances, the total amount of harmful pollutants entering the atmosphere will decrease, helping to keep the planet cool. 

In fact, electrifying your home, appliances, and vehicle is one of the best ways to save money while reducing your environmental footprint. By reducing the amount of energy your household consumes, you cut down on your utility bills and your household's pollution. 

To learn more about incentives available in your area, check out Rewiring America's free online tools. In just a few minutes, you can navigate different tax benefits and find local contractors, simplifying the transition process. 

Moving forward, it's best to act now when it comes to upgrading your home. President Trump has already stated he intends to remove these subsidies, though this would ultimately require an act of Congress. However, upgrading now could lead to saving hundreds of dollars.

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